{"id":410508,"date":"2020-01-10T19:30:33","date_gmt":"2020-01-10T19:30:33","guid":{"rendered":"https:\/\/ktsl888.com\/?p=410508"},"modified":"2020-01-10T19:39:00","modified_gmt":"2020-01-10T19:39:00","slug":"bitcoin-is-fearfully-following-former-bear-market-fractal-new-lows-possible","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-is-fearfully-following-former-bear-market-fractal-new-lows-possible\/","title":{"rendered":"Bitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The cryptocurrency community was expecting <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> to be off to the races working toward setting its next new all-time high once the first-ever cryptocurrency \u201cbottomed\u201d in late 2018, however, the recent downtrend has them thinking again.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to a comparison between the current bear market and the 2014-2015 bear market, Bitcoin has clearly been following a similar trajectory, albeit on a different timescale. If the leading cryptocurrency by market cap continues to follow the same path, $3,000 wasn\u2019t the actual bottom, and new lows may be in the months ahead.<\/span><\/p>\n<h2>Has Bitcoin Really Bottomed Or Will We See a Repeat of the 2014-2015 Bear Market?<\/h2>\n<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is only eleven years young, and it\u2019s had very little history in which to draw potential comparisons. The idea is that markets are cyclical, history repeats, and emotions are similar, so both rallies and even corrections can oftentimes take a similar shape.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But with Bitcoin, it only has had a few, small periods of drawdown, that often quickly reverse and the subsequent rally more than makes up for any lost ground.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/01\/09\/psychology-of-a-market-cycle-are-bitcoin-investors-in-denial\/\">Psychology of a Market Cycle: Are Bitcoin Investors In Denial?\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Because there are so few comparisons to draw against, the best comparison against the current bear market is the 2014 to 2015 bear market. The bear market formed after <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> topped out in late 2013 at over $1,000, then dropped all the way back to around $150 at the low.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Before Bitcoin reached $150, though, it had a short-lived rally from roughly $350 to $665 before the downtrend really picked up in severity.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I don&#39;t insist. <br \/>Moreover, I think it is very unlikely to happen. <br \/>But don&#39;t deny that there is a resemblance. <br \/>Even the time scale is expanded, just as it is expected for the increased capitalization. <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTCUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTCUSD<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/r1FqoQ1zLQ\" rel=\"nofollow\">pic.twitter.com\/r1FqoQ1zLQ<\/a><\/p>\n<p>&mdash; CryptoHamster (@CryptoHamsterIO) <a href=\"https:\/\/twitter.com\/CryptoHamsterIO\/status\/83584001?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 10, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Investors who thought their woes were over and the asset had bottomed were completely caught by surprise as the cryptocurrency dove deeper and deeper, causing extreme panic and fear.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">When comparing this same sort of pattern and behavior against Bitcoin\u2019s current bear market, with the timescale slightly adjusted for length, the price action is following the same trajectory after the rally peaked, and began heading for the true, ultimate bottom where Bitcoin bounced into a new bull market.<\/span><\/p>\n<h2>Elliott Wave Theory Adds Validity to Pattern<\/h2>\n<p class=\"p1\"><span class=\"s1\">In April 2019, <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> broke out of its trading range around the lows that were set at the time, causing many to believe the bull market had begun. But the crypto asset was rejected at $14,000 &#8211; much like it was back in 2014 at $665 and could be headed down to set a new low.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to <a href=\"https:\/\/www.investopedia.com\/terms\/e\/elliottwavetheory.asp\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Elliott Wave Theory<\/a>, impulse waves up often are followed by an ABC corrective wave. When applying this theory to both bear markets, it\u2019s not impossible to see how such a situation could play out. During ABC corrections, the C wave is always lower than the A wave.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-410511\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/01\/Screen-Shot-2020-01-10-at-2.07.06-PM.png?resize=860%2C467\" alt=\"bitcoin crypto bear market fractal\" width=\"860\" height=\"467\"><\/p>\n<p class=\"p1\"><span class=\"s1\">In the above chart, <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> price can be seen dropping through a long-term trendline to set the low for wave A, then rises to confirm the trendline as resistance before falling to wave C. When looking at the current bear market, Bitcoin fell to $3,000 for wave A, rose to $14,000 to wave B, then could fall all the way back to $1,000 for wave C.<\/span><\/p>\n<p>In the former bear market, the leading cryptocurrency by market cap fell back to the previous bull market high around $150, before rising once again and setting a new all-time high at $20,000. If the same pattern occurs, Bitcoin could fall as low as $1,000, but then later go on its next bull run and set highs near $100,000 or higher &#8211; as many investors expect it to.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/01\/02\/elliott-wave-theory-suggests-bitcoin-may-be-due-for-biggest-correction-yet\/\">Elliott Wave Theory Suggests Bitcoin May Be Due For Biggest Correction Yet<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">But for the sake of the crypto market, investors are hoping that $3,000 was indeed the bottom and that <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is already well into its next bull run.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency community was expecting Bitcoin to be off to the races working toward setting its next new all-time high once the first-ever cryptocurrency \u201cbottomed\u201d in late 2018, however, the recent downtrend has them thinking again. According to a comparison between the current bear market and the 2014-2015 bear market, Bitcoin has clearly been following a similar trajectory, albeit on a different timescale. If the leading cryptocurrency by market cap continues to follow the same path, $3,000 wasn\u2019t the actual bottom, and new lows may be in the months ahead. Has Bitcoin Really Bottomed Or Will We See a Repeat of the 2014-2015 Bear Market? Bitcoin is only eleven years young, and it\u2019s had very little history in which to draw potential comparisons. The idea is that markets are cyclical, history repeats, and emotions are similar, so both rallies and even corrections can oftentimes take a similar shape. But with Bitcoin, it only has had a few, small periods of drawdown, that often quickly reverse and the subsequent rally more than makes up for any lost ground. Related Reading | Psychology of a Market Cycle: Are Bitcoin Investors In Denial?\u00a0 Because there are so few comparisons to draw against, the best comparison against the current bear market is the 2014 to 2015 bear market. The bear market formed after Bitcoin topped out in late 2013 at over $1,000, then dropped all the way back to around $150 at the low. Before Bitcoin reached $150, though, it had a short-lived rally from roughly $350 to $665 before the downtrend really picked up in severity. I don&#39;t insist. Moreover, I think it is very unlikely to happen. But don&#39;t deny that there is a resemblance. Even the time scale is expanded, just as it is expected for the increased capitalization. $BTC $BTCUSD #bitcoin pic.twitter.com\/r1FqoQ1zLQ &mdash; CryptoHamster (@CryptoHamsterIO) January 10, 2020 Investors who thought their woes were over and the asset had bottomed were completely caught by surprise as the cryptocurrency dove deeper and deeper, causing extreme panic and fear. When comparing this same sort of pattern and behavior against Bitcoin\u2019s current bear market, with the timescale slightly adjusted for length, the price action is following the same trajectory after the rally peaked, and began heading for the true, ultimate bottom where Bitcoin bounced into a new bull market. Elliott Wave Theory Adds Validity to Pattern In April 2019, Bitcoin broke out of its trading range around the lows that were set at the time, causing many to believe the bull market had begun. But the crypto asset was rejected at $14,000 &#8211; much like it was back in 2014 at $665 and could be headed down to set a new low. According to Elliott Wave Theory, impulse waves up often are followed by an ABC corrective wave. When applying this theory to both bear markets, it\u2019s not impossible to see how such a situation could play out. During ABC corrections, the C wave is always lower than the A wave. In the above chart, Bitcoin price can be seen dropping through a long-term trendline to set the low for wave A, then rises to confirm the trendline as resistance before falling to wave C. When looking at the current bear market, Bitcoin fell to $3,000 for wave A, rose to $14,000 to wave B, then could fall all the way back to $1,000 for wave C. In the former bear market, the leading cryptocurrency by market cap fell back to the previous bull market high around $150, before rising once again and setting a new all-time high at $20,000. If the same pattern occurs, Bitcoin could fall as low as $1,000, but then later go on its next bull run and set highs near $100,000 or higher &#8211; as many investors expect it to. Related Reading | Elliott Wave Theory Suggests Bitcoin May Be Due For Biggest Correction Yet But for the sake of the crypto market, investors are hoping that $3,000 was indeed the bottom and that Bitcoin is already well into its next bull run.<\/p>\n","protected":false},"author":517,"featured_media":410510,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[5687,428,6664,58757],"class_list":["post-410508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bear-market","tag-bitcoin","tag-crypto","tag-elliott-wave-theory"],"acf":[],"yoast_head":"\n<title>Bitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible<\/title>\n<meta name=\"description\" content=\"The cryptocurrency community was expecting Bitcoin to be off to the races working toward setting its next new all-time high once the first-ever\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-is-fearfully-following-former-bear-market-fractal-new-lows-possible\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Is Fearfully Following Former Bear Market Fractal, New Lows Possible\" \/>\n<meta property=\"og:description\" content=\"The cryptocurrency community was expecting Bitcoin to be off to the races working toward setting its next new all-time high once the first-ever\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-is-fearfully-following-former-bear-market-fractal-new-lows-possible\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-10T19:30:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-10T19:39:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/01\/bitcoin-crypto-shutterstock_1207167820.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"633\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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